NexGel enters 2024 employment agreement with CEO Adam Levy, appoints Scott Henry to compensation committee

NEXGEL, INC.

NexGel entered a one-year employment agreement with CEO Adam Levy, effective Jan 1, 2024, with $325,000 base salary and $70,000 equity grant.
Performance bonuses include $100,000 cash and 35,000 shares upon achieving positive EBITDA for two consecutive quarters through Q1 2025.
Stock price bonuses: $25,000 cash and 25,000 shares if stock averages $4.50; $75,000 cash and 50,000 shares if $7.00 over three months.
Board appointed Scott R. Henry as Chair of Compensation Committee effective Jan 1, 2024, replacing David Stefansky.
Equity grants issued under Section 4(a)(2) exemption; non-competition and non-solicitation clauses apply to Levy.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.